Lloyds to acquire savings firm Embark Group in £390m deal
UK bank aims for “top three” position in the retirement and savings market.
BankingTech
New banking software deals for Oracle FS in Africa and India
Addis International Bank, Arab Commercial Bank, and OmniBSIC Bank are the new Flexcube takers.
Major Indian banks join trade finance blockchain project IBBIC
The consortium promises the creation of a secure environment for processing letters of credit.
Nymbus signs Plaid partnership deal to boost client onboarding
Core banking provider says deal will improve a range of identity processes for customers.
Mobile first, second and third!
Most companies talk about the importance of mobile technology, but I’m not convinced there is a proper understanding.
Greengage bank seeks Gibraltar licence to serve SMEs and crypto firms
New firm wants to be Gibraltar’s first digital merchant bank.
Solarisbank raises €190m in Series D, acquires Contis for UK foothold
German BaaS provider hits unicorn valuation and looks towards the UK.
Seen it all before
All banks are the same, but in profoundly different ways.
White paper: How top companies are better mitigating fraud & enhancing CX with Phone-Centric Identity
Nine of the top ten banks use Phone-Centric Identity to mitigate fraud. Do you?
White paper: Data’s evolution in the cloud – financial services’ long-time data advantage
New research by The Economist about the banking industry’s attitudes, progress, and aspirations for leveraging data.
Core banking firm SaaScada hires Paul Payne as new CTO
New core provider on the block builds out executive team.
Lloyds and Mastercard sign open banking payments partnership
The new platform, PayFrom Bank, utilises Mastercard’s Payment Gateway technology.
Unlocking the benefits of cloud
Migrating operations to the cloud is a challenge for even the most digitally focused organisation.
Commerzbank to write off €200m after scrapping outsourcing project with HSBC
The bank cites implementation risks and changed market conditions as the reasons behind its decision.
Former Absa exec joins NAB as new chief security officer
Sandro Bucchianeri announced his departure from Absa at the start of the month.
Fintechs will be at the heart of the next wave of security wars
Hackers are rapidly adapting their tactics to target features of modern fintechs.
Tesco Bank set to close all personal current accounts by November
Bank to close all 213,000 existing accounts as many show “limited activity”.
Starling makes Fleet Mortgages its first acquisition with £50m deal
UK challenger looks to expand into mortgages as an asset class.
UK government plans further sale of state-owned NatWest shares
NatWest plans to be fully private by 2026.
Russian central bank asks exchanges to avoid cryptocurrency firms
Bank of Russia asks stock exchanges not to list crypto-adjacent companies.
Bank of Ireland to acquire Davy in €440m deal
Davy is also selling Davy Global Fund Management and its shareholding in Rize ETF to other third parties.
ICYMI funding round-up: Credit Fair, Plooto, Xclaim, Weavr & more
Another batch of funding rounds that might have flown under your radar.
Dear Luc: What’s the deal with embedded finance?
This week someone writes in to ask: how can I get on the embedded finance bandwagon?
Santander UK launches cash management platform with Infosys Finacle
Santander Global Connect will roll out in phases through the year.
Revolut picks Equifax as UK data and analytics provider
Revolut’s app is now powered by Equifax cloud-based data in both the UK and US.
Afterpay to launch lifestyle app Money on Westpac tech
BNPL firm aims to make Money a primary account for users.
Open banking myths
We are still at the start of the journey with open banking and have yet to see its full potential.
UBS pays $8m to settle SEC compliance charges
US regulator found failings in the bank’s handling of exchange-traded products.
The time before things happen
Imagining and creating things is hard, but you don’t have to do it all yourself.
Cambridge Savings Bank launches new digital banking solution
Ivy Bank will act as a digital-only division of CSB.
Australian fintech Alex secures banking licence from APRA
It’s the first licence to be handed out by APRA in 18 months.
OneFamily goes live with iPipeline’s SSG Digital
UK-based OneFamily seeks more flexibility and adaptability.
Nomo launches as UK’s newest Islamic digital bank
The new challenger is a subsidiary of Kuwait-based Boubyan Bank.
New banking service Dion.Money plans August launch in the UK
Fledgling challenger to run paid-for accounts and offer “personalised” service.
How COVID-19 has accelerated the use of digital banking solutions in Africa
The past year has seen a clear trend towards the adoption and acceleration of digital banking products.
Finnovex Southern Africa – 27th and 28th July 2021
The event, being organised by Exibex, will be held virtually.
ECB agrees to move forward to investigation phase of digital euro project
Work will now focus on functional design and prototyping and will involve focus groups.
Classic product placement has had its day
Product placement is easily recognised by the customer and viewed negatively.
AI and machine learning spearheading rapid change in data reconciliations
The industry is moving towards Reconciliations-as-a-Service, says SmartStream’s Robin Hasson.
Video: fintech news pick of the week – Revolut, Lunar and the UK fintech sector
Our top pick of news from the world of finance and tech in bitesize video format, twice a week.
